EYEGAUGE marine-tech raises €535K in seed funding for decarbonisation

EYEGAUGE marine-tech startup today announced that it has raised 535,000 Euros in seed financial round to decarbonize the maritime industry by leveraging high-frequency data.

The financial round was led by French Business Angel groups, including Mer Angels, Paris Business Angels and BAdGE, alongside with the support from several individual investors. Paris Business Angels is one of France’s networks for investing in and supporting startups.

Founded in 2020 EYEGAUGE, the Paris, France and Singapore-based start-up specializing in data collection technology, has developed its data collection solution that makes any ship a “smart” ship, as the company claims.

“Data collection forms a foundation for our Unified Fleet Data Platform that helps shipowners, ship managers and ship operators optimize fleet performance, and reduce emissions and fuel consumption by using high-quality and high-frequency data from onboard machinery and equipment,” EYEGAUGE unveils in a press statement.

The recently secured investment will be strategically allocated to reinforce R&D, expand the go-to-market team, and further enhance the data collection solution and Unified Fleet Data Platform.

This round of financing will be supplemented by public funding, notably from Bpifrance.

A few words from the investors

“Mer Angels decided to invest in EYEGAUGE recognizing that their innovative and truly unique solution is exactly what the shipping industry needs to digitize and to comply with new shipping IMO regulation in no time,” said Vincent Guiheneuc, Mer Angels board member.

“Paris Business Angels (PBA) is delighted to support EYEGAUGE alongside Badge and Mer Angels. The project will make a major contribution to the decarbonization of the maritime sector, by enabling ship performance to be measured and shared through the non-invasive digitization of existing measuring equipment. This will help to improve ship performance, detect anomalies and thus prolong the life of vessels,” pointed out Antoine Serceau, investor member of PBA.